Iranian exporters of semi-finished steel products have continued to push for higher prices after successfully selling billet and slab volumes in recent weeks.Metal Bulletin's weekly price assessment for Iranian billet exports widened at both ends of the range to $515-530 per tonne fob on Wednesday March 14, against $518-520 per tonne fob a week earlier.The country's largest billet exporter, Khouze...Read More
China's domestic rebar prices were unchanged on Wednesday March 14, with high inventory levels offsetting the effects of a recovery in the futures market and a pick-up in trading activity.Domestic Eastern China (Shanghai): 3,790-3,850 yuan ($599-609) per tonne, unchangedNorthern China (Beijing): 3,900-3,930 yuan per tonne, unchangedRebar futures charted a recover in the last 30 minutes of the morn...Read More
Prices for hollow steel sections in Northern Europe have fallen by ?,?5 ($6) per tonne this week, with some mills accepting lower bids to secure orders, market participants told Metal Bulletin on Wednesday March 14.Meanwhile, Southern European prices widened upward by ?,?5 per tonne, with the large Italian mills being more successful in driving up their offer prices, sources said.Metal Bulletin's...Read More
Turkish pipe export prices have remained stable this month, despite sluggish demand especially in the Middle East region, sources said on Wednesday March 14.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $680-690 per tonne fob on March 14, unchanged month-on-month.Turkish pipe producers...Read More
UK long steel producer British Steel has won a contract to supply German railways operator Deutsche Bahn with 20,000 tonnes per year of rail, the company said on Wednesday March 14.In order to produce the 120-meter-long rail segments required by Deutsche Bahn, British Steel last year invested ?1 million ($1.39 million) to enhance its rail and sections mill in Scunthorpe, in eastern England.The tw...Read More
China's ferrous futures picked up on Wednesday March 14 amid the release of data from the National Bureau of Statistics (NBS) showing an increase in the country's crude steel output in January to February.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,736 yuan ($590.60) per tonne, up 46 yuan per tonne May hot-rolled coil: 3,855 yuan per tonne, up 52 yuan per tonne...Read More
China's crude steel output as well as its finished steel production increased during the first two months of 2018.The country produced a total of 136.82 million tonnes of crude steel over the January-February period, up 5.9% from a year earlier, the National Bureau of Statistics (NBS) said on Wednesday March 14. The bureau did not release separate statistics for either month.China's finished...Read More
Prices for steel beams in Europe could come under downward pressure in the coming weeks because of waning demand, despite mills plotting further price rises, sources told Metal Bulletin on Wednesday March 14."Demand for beams is not strong, which means that we are selling below our budget in terms of tonnes," one Northern European distributor said.Stockholders continue to hold bloated volumes of b...Read More
Prices for hollow steel sections in Northern Europe have fallen by ?,?5 ($6) per tonne this week, with some mills accepting lower bids to secure orders, market participants told Metal Bulletin on Wednesday March 14.Meanwhile, Southern European prices widened upward by ?,?5 per tonne, with the large Italian mills being more successful in driving up their offer prices, sources said.Metal Bulletin's...Read More
Teck Resources and Asian smelters have agreed to cut annual lead concentrate treatment charges (TCs) by 28% in 2018 supply contracts, sources with knowledge of the deals told Metal Bulletin.The deals bring lead concentrate TCs, fees paid to smelters for the costs of processing concentrates into metal, down to $99 per tonne from $138 per tonne last year. Market sources also noted a drop in containe...Read More
Prices for rebar produced and delivered in Southern Europe widened upward by ?,?10 per tonne this week amid higher scrap costs, sources told Metal Bulletin on Wednesday March 14.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe widened upward to ?,?525-545 ($649-674) per tonne delivered on Wednesday, compared with ?,?525-535 per tonne delivered one week ago."Domestic s...Read More
Base metals prices on the London Metal Exchange are for the most part consolidating this morning, Wednesday March 14, although copper and lead prices are showing gains of 0.5% and 0.3% respectively, with the former at $6,984 per tonne.Volume has been average with 7,085 lots traded as of 07.06am London time. This follows a day when most prices rebounded on Tuesday, with the complex closing up by an...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 14. Base metals prices on the London Metal Exchange were higher across the board this morning, following better-than-expected data releases from China. The base metals are building on Monday's rally with nickel hitting above $14,020 per tonne for the first time in March, while copper recovered back abo...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the February Producer Price Index was an increase of 0.2% versus a gain of 0.4% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus for the February Producer...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday March 14.Base metals traded on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Wednesday, underpinned by a weaker dollar and healthy data releases from China.Tin was the only metal to weaken so far this morning, while the rest of complex pushed hig...Read More
SHANGHAI, Mar 14 (SMM) – Nonferrous and ferrous metals in the Shanghai market rebounded across the board and remained firm on the morning of Wednesday March 14 as data on China's economy in January and February were released, SMM found. The National Bureau of Statistics (NBS) released the report on China's economy for the first two months in 2018.Vice president of Zhongda Future...Read More
SHANGHAI, Mar 14 (SMM) – Nonferrous and ferrous metals in the Shanghai market rebounded across the board and remained firm on the morning of Wednesday March 14 as data on China's economy in January and February were released, SMM found. The National Bureau of Statistics (NBS) released the report on China's economy for the first two months in 2018.Vice president of Zhongda Future...Read More